China Tungsten Prices Remain Stable at the End of December 2024

Analysis of latest tungsten market from Chinatungsten Online

China tungsten prices remain generally stable in the week ended on Friday, December 27, 2024, supported by a firming stance from raw material suppliers who are reluctant to sell. 

However, weak consumer demand continues to limit market activity, with subdued transaction levels ahead of the New Year holiday. Market participants are largely adopting a cautious, wait-and-see attitude, paying close attention to macroeconomic developments alongside supply-demand dynamics.

Price Highlights:

65% Black Tungsten Concentrate Prices stand at $20,140.8/ton. The market faces risks of resource depletion and declining production. With limited new mine development domestically and a slow pace of overseas mine restarts, miners remain firm in their pricing stance.

Ammonium Paratungstate (APT) Prices are reported at $335.8/mtu, influenced by strong cost-side factors and increased year-end efforts to maintain price stability. Negotiation levels have slightly shifted upwards.

Tungsten Powder Priced at $44.5/kg, and Tungsten Carbide Powder at $43.8/kg. The market is primarily driven by cost factors, with a steady approach prevailing. However, weak demand from the alloy sector and differing market views on supply and demand have slowed resource circulation.

70% Ferro-Tungsten Prices are around $30,281.7/ton. Sellers have reduced their willingness to offer discounts linked to tungsten concentrate prices, while downstream restocking activity remains lackluster. The market continues to operate in a cautious, demand-driven mode.

Scrap Tungsten Prices have shown slight upward movement. Expectations of strong future demand clash with current weak realities, resulting in fluctuating sentiment. Year-end quotations are relatively firm, but demand remains limited.

Macroeconomic Update:

China’s National Bureau of Statistics revised the 2023 GDP figures. The revised GDP now stands at 129.4 trillion RMB, an increase of 3.4 trillion RMB over preliminary estimates, reflecting a growth rate of 2.7%.

The market remains attentive to these macroeconomic adjustments, which may have implications for the broader tungsten industry and downstream sectors.

Prices of tungsten products on December 30, 2024

Picture of WL15 electrodes

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